Caixin
Sep 14, 2018 08:17 PM
ECONOMY

SOE Debt Target Shows China Still Serious About Deleveraging

An oil depot operated by the state-owned PetroChina in Changde, Hunan province on Oct. 25. Photo: VCG
An oil depot operated by the state-owned PetroChina in Changde, Hunan province on Oct. 25. Photo: VCG

*The State Council has called on state-owned enterprises (SOES) to slash their debt ratio by 2 percentage points by 2020

* SOEs had debts of 997 billion yuan ($145.6 billion) in December 2017, compared with total assets of 151.7 billion yuan, according to the Finance Ministry

(Beijing) — The State Council has called on China’s state-owned enterprises to push to reduce their debt ratio by 2 percentage points by 2020, in a move intended to signal its commitment to tackling the debt levels considered a danger to the economy.

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